UK plc gains IA support

The Investment Association (IA), on behalf of the UK’s investment management industry, has written to chairs of all FTSE 350 companies, expressing the industry’s commitment to supporting British business during the COVID-19 pandemic.

The IA, whose members collectively own a third of UK plc, is asking for there to be a two way understanding and dialogue, as shareholders look to keep corporate Britain working. The measures outlined include focus on the most ‘material’ issues during AGMs, to take into account the suitability and executive pay being aligned to company performance and dividends.

Chris Cummings, chief executive of the Investment Association, said: “The response to the COVID-19 pandemic has caused real strain across the economy and so it is right that investors help steady the ship. We are trusted by millions of pension savers to invest their money wisely and that means taking a long-term view, backing companies that do the right thing, and holding those that don't to account.”

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